Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry

In the current market economy, alliances play a key role in developing strategies across fields. In order to have a good partner, managers have used both qualitative and quantitative methodologies. This paper proposes a mathematical model to figure out the most suitable strategic partners. With inpu...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Phu Nguyen, Nhu Ty Nguyen
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	science mathematics & statistics applied mathematics social sciences economics finance business & industry business management and accounting industry & industrial studies Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/6e51b89763a84e6e878101c9b2ba77cb
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:6e51b89763a84e6e878101c9b2ba77cb
record_format	dspace
spelling	oai:doaj.org-article:6e51b89763a84e6e878101c9b2ba77cb2021-12-02T14:41:55ZUsing optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry2331-197510.1080/23311975.2020.1832810https://doaj.org/article/6e51b89763a84e6e878101c9b2ba77cb2020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1832810https://doaj.org/toc/2331-1975In the current market economy, alliances play a key role in developing strategies across fields. In order to have a good partner, managers have used both qualitative and quantitative methodologies. This paper proposes a mathematical model to figure out the most suitable strategic partners. With input data from published financial reports, the authors use the data envelopment analysis (DEA) to evaluate the business efficiency of the steel companies in the period of 2011–2019. Then, Grey system theory is applied to predict their performance in the future period. The findings recommend the two leading steel manufactures but having ineffective performance, the Hoa Sen Group, and the Pomina Steel Corporation, as the most feasible beneficial partnership. Managers and the government can take advantages of the model in order to implement and have overall plans of steel enterprise in the future.Phu NguyenNhu Ty NguyenTaylor & Francis Grouparticlesciencemathematics & statisticsapplied mathematicssocial scienceseconomicsfinancebusiness & industrybusinessmanagement and accountingindustry & industrial studiesBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	science mathematics & statistics applied mathematics social sciences economics finance business & industry business management and accounting industry & industrial studies Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	science mathematics & statistics applied mathematics social sciences economics finance business & industry business management and accounting industry & industrial studies Business HF5001-6182 Management. Industrial management HD28-70 Phu Nguyen Nhu Ty Nguyen Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
description	In the current market economy, alliances play a key role in developing strategies across fields. In order to have a good partner, managers have used both qualitative and quantitative methodologies. This paper proposes a mathematical model to figure out the most suitable strategic partners. With input data from published financial reports, the authors use the data envelopment analysis (DEA) to evaluate the business efficiency of the steel companies in the period of 2011–2019. Then, Grey system theory is applied to predict their performance in the future period. The findings recommend the two leading steel manufactures but having ineffective performance, the Hoa Sen Group, and the Pomina Steel Corporation, as the most feasible beneficial partnership. Managers and the government can take advantages of the model in order to implement and have overall plans of steel enterprise in the future.
format	article
author	Phu Nguyen Nhu Ty Nguyen
author_facet	Phu Nguyen Nhu Ty Nguyen
author_sort	Phu Nguyen
title	Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
title_short	Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
title_full	Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
title_fullStr	Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
title_full_unstemmed	Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry
title_sort	using optimization algorithms of dea and grey system theory in strategic partner selection: an empirical study in vietnam steel industry
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/6e51b89763a84e6e878101c9b2ba77cb
work_keys_str_mv	AT phunguyen usingoptimizationalgorithmsofdeaandgreysystemtheoryinstrategicpartnerselectionanempiricalstudyinvietnamsteelindustry AT nhutynguyen usingoptimizationalgorithmsofdeaandgreysystemtheoryinstrategicpartnerselectionanempiricalstudyinvietnamsteelindustry
_version_	1718389876721713152

Using optimization algorithms of DEA and Grey system theory in strategic partner selection: An empirical study in Vietnam steel industry

Ejemplares similares